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The Fed hiked interest rates for the second time this year, which was widely anticipated. So what does this mean? Since this move up was well telegraphed by the Fed, the markets largely priced this change in and took it in stride. Sure bond values may back off for a bit, but should be stable. The stock market way wobble a bit before finding their footing. The mortgage industry will absorb this and slow down a bit. At this time, we don't see surprises, which is positive for the market. The Fed's move also indicates that the economy, according to the Fed, is doing fine. We also should expect stability and likely another interest rate hike later this year. With all this stability and visibility, please keep in mind that the markets and news cycle can change in a New York minute. For today, enjoy the ride and the boost in confidence.

With the recent change to the Social Security programs, the best time to take your Social Security benefits has shifted. In many ways, it is more straightforward now.

As before, your best answer depends upon a handful of factors, the most important one being how long you will live. And no one really knows this and it is unknowable. However, you can make an educated guess based on your present health and your family's health history. Here's the boiled down version.

For couples, if you have exceptional health and longevity, defer as long as you can and collect the delayed tax credits. If you have poor health, file early and get your benefits while you can. Most will fall in the middle and so waiting until full retirement age to collect your benefits will be the best.

For singles, it is the same pretty much, except that if you have average health you'd likely be better off waiting for full retirement age to collect a much richer benefit in case you end up living much longer than anticipated--and it does happen!

There are always twists, turns, and caveats with Social Security, but that is the general lay of the land.

If you have questions about this, let us know and we'd be happy to help.

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